South African Airways is looking for a new strategic or equity partner to inject capital into the troubled state-owned carrier after a previous deal with the Takatso Aviation Consortium fell through
The interim CEO of SAA, John Lamola, mentioned that finding a new partner could lead to SAA listing on the Johannesburg Stock Exchange, with the government retaining a “golden share” to protect national interests
The deal with Takatso fell apart over disagreements on price, the status of certain entities owning Lift Airlines, and political opposition to privatisation from within the ANC
Despite receiving significant state bailouts, SAA turned its first profit in over a decade, but concerns remain about financial transparency, accounting practices, and capitalisation, as highlighted in a report by the South African Auditor General, leading to calls for an independent investigation into the collapsed Takatso deal.
